The Henry, Isaac, and Jacobs Partnership Was About to Enter

question 49

Multiple Choice

The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances:

Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.
What amount of cash was available for safe payments, based on the above information?

• A) $30,000.
• B) $85,000.
• C) $25,000.
• D) $35,000.
• E) $40,000.

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Definitions:

Functional Subcultures

describe groups within an organization that share specific values, beliefs, and behaviors related to their particular functions or roles, which can influence the overall culture of the organization.

Gender Subcultures

Distinct cultural groups formed based on gender identities and roles that influence behaviors, beliefs, and social interactions within a society.

Occupational Subcultures

Distinct cultural groups within a larger organization that develop unique norms, values, and practices based on their specific roles or professions.

Operating a Business

The day-to-day activities involved in managing a company or enterprise, including production, marketing, and financial management.